What are some legal rights I have when I own real estate with another person/business and we can't agree on what to do with it?
There are many circumstances in
which people hold joint title to land. Perhaps
you and your friend purchased some hunting land years ago but now you want to
sell it but he refuses to cooperate despite your requests to put it on the
market. Or maybe you and your siblings inherited your grandfather’s old house
yet no one can seemingly agree on what to do with it. There is a lawsuit you can file designed for those
situations in which two or more owners appear on the title/deed of the property
and one party is seeking to force the force the sale or separation of their
property. It is called Involuntary Partition.
Involuntary Partition: The law
suit in which joint owners of real estate can sever their interest in the land
or force the sale of the property to recover their portion of the value.
Once the lawsuit is initiated by one
of the owners, the property is eventually appraised or examined by a set of
qualified commissioners who then file a report with the court. This report indicates whether the property is
capable of being physically divided or if a sale is necessary to adequately
compensate the owners for their respective interest in the property. Whether the property is divided or sold, each
owner is entitled to reimbursement for contributions made toward the property
such as mortgage payments and real estate taxes. The theory is that if one owner allowed to enjoy
the equitable value or worth their share of the property then they should also
share in the costs and expenses associated with it. For example, if Jack and Jill each own 50% of
the hill, then each of them are liable to pay 50% of the real estate taxes on
it. So if Jack pays 100% of those taxes then upon the sale of the property at
the conclusion of the partition suit, Jill would have to reimburse Jack for her
portion of 50% of the real estate taxes via the sale proceeds.
There are several facts that must be present in order for a party to bring forth a partition law suit. At Hall, Rustom & Fritz LLC, our attorneys are experienced in real estate law and transactions. Our rates are reasonable and the cost of the legal work pales in comparison to the problems that could arise if the wrong type of legal action is used.
To schedule a consultation regarding your case please call the attorneys at Hall, Rustom & Fritz LLC at (309) 699-4691. Our office is located on the 3rd floor of the GEM Terrace Building in East Peoria, IL.
Michael Fritz is a partner at Hall & Rustom, LLC and concentrates his law practice in Family law with great emphasis on Real Estate transactions, Divorce, Child Custody, Child Support, and College Expenses. He also concentrates in Estate Planning & Administration, and School Law.
If you have a legal question, email Michael Fritz.
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The attorneys at Hall, Rustom & Fritz LLC represent clients throughout the
entire state of Illinois, including, but not limited to, the cities of
Peoria, Morton, Washington, Pekin, Eureka, East Peoria, Dunlap,
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